WH Smith reviewing options on US travel retail unit

EmilyChurch

U.K. book retailer WH Smith [s uk:smwh] on Thursday said operating profit before goodwill and exceptional items rose 9 percent to 93 million pounds for the six months to Feb. 28. Earnings per share, reflecting a charge in the U.S., was down 23 percent to 11.0p. Sales were down 2 percent at 1.6 billion pounds. Like-for-like (same-store) sales in the U.K. were down 2 percent. "We have closed a further 33 loss making hotel stores and following a review of our cost base have reduced our central costs by 25 percent on an annualised basis," it said. "However, we continue to review all our options in respect of our USA Travel Retail business, particularly in relation to hotels, and seek solutions that will benefit all our stakeholders."

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